Appetite for home improvement
Axiom, a Minneapolis-based market research company, surveyed more than 1,000 homeowners on their home improvement spending, and future spending. One of the major findings: 90% of homeowners are planning projects.
Axiom’s survey found that 89.5% of respondents said they will spend about the same amount time or more on home improvement projects in 2021.
Here are some of the highlights:
2021 planned home improvement projects:
• Yard/landscape, 35%;
• Bathroom, 31%;
• Kitchen, 27%;
• Bedroom, 26%.
• Deck/patio, 25%;
• Office, 16%;
Home improvement and do-it-yourself projects were in high gear last year as the pandemic took hold. New research shows what home improvements are planned, how much homeowners will spend, if they’ll rely on professionals to get the work done and more.
The survey found that 64% of planned projects are expected to cost more than $1,000. Here's the breakdown:
• Up to $500, 16%;
• $501 to $1,000, 20%;
• $1,001 to $2,500, 23%;
• $2,501 to $5,000, 20%;
• $5,001 to $10,000, 13%: and
• More than $10,000, 9%.
Also, more than 56% will hire a professional contractor, according to the survey.
The Axiom Marketing team has compiled the full results of the company’s latest consumer poll – The 2021 Axiom Homefront Insights Survey.